Home Press 2010 consolidated accounts

Friday, March 4, 2011  

Nexter, New products underpin 2010 growth

- TURNOVER: €1076 M (+21% ON 2009)

The board of directors of Nexter Systems met Thursday, March 3 to close the 2010 consolidated accounts of Nexter group.

Orders taken by Nexter group for the 2010 fiscal year totaled €601 M, of which 45% export and 52% taken by the Group's munitions division. 2010 orders are the result of a complementary weapons systems/munitions industrial model as Nexter Munitions export sales retraced the path of Nexter Systems' own sales over the last four years.

The Group's consolidated turnover totaled €1076 M over 2010 (€887 M in 2009). The 20%+ growth in turnover reflects the Group's reliable to delivery performance (108 armored infantry combat vehicles and 78 CaesarÒ artillery systems) and support services (multi-year performanced based support contracts for equipment in use by French and overseas armed forces).

For the fifth consecutive year the consolidated operating margin of the Nexter group exceeded 10% of its turnover thanks to its solid and effective business model. The 2010 current operating margin was 12.5% after restatement of items strong to previous periods, a performance that is testimony to the Company's firm control over its contracts.

Net consolidated earnings for the Nexter group were €164 M and take account of significant research and development spending (over 10% of consolidated turnover).

Nexter group's order book is worth €2032 M and provides work for around 2½ years.

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